Made-in-China’s revenues drops 29% in Q3

Nanjing, 25th October: Earlier this week, Shenzhen-listed Focus Technology, which is the owner and operator of Made-in-China.com, reported its financial results for the quarter ended 30th September 2018. Revenues were US$34 million - that represents a decrease of 29% compared with last year. The company’s net income increased slightly by 2.6% in the quarter to US$4.4 million.

The Nanjing-based company also released its results for the nine-months ended 30th September. Focus Technology generated revenues of US$93 million, down 33% compared with the same period in 2017.

The company attributed the decrease in the revenues to a change in its accounting method as required by a new Chinese government policy. Its net income grew 2.2% in the nine-month period to US$9.3 million. Earnings per share in the first nine months of 2018 were RMB 0.27 (US$0.039).

As of 30th September, Made-in-China.com had a total of 16,286 of registered users and of those, 13,859 were registered on its flagship English-language platform, while the remaining 2,427 were registered on its Chinese-language platform.

Source: Focus Technology financial result (Chinese)